Creative Planning Sells 3,709 Shares of Phillips 66 $PSX

Creative Planning decreased its stake in Phillips 66 (NYSE:PSX) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,972 shares of the oil and gas company’s stock after selling 3,709 shares during the quarter. Creative Planning’s holdings in Phillips 66 were worth $27,913,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after buying an additional 7,214 shares in the last quarter. Diversify Advisory Services LLC boosted its holdings in shares of Phillips 66 by 5.9% in the 1st quarter. Diversify Advisory Services LLC now owns 3,051 shares of the oil and gas company’s stock worth $377,000 after acquiring an additional 170 shares in the last quarter. Cassaday & Co Wealth Management LLC grew its position in Phillips 66 by 11.1% during the 1st quarter. Cassaday & Co Wealth Management LLC now owns 2,256 shares of the oil and gas company’s stock worth $279,000 after acquiring an additional 226 shares during the last quarter. Counterweight Ventures LLC increased its holdings in Phillips 66 by 5.9% during the 1st quarter. Counterweight Ventures LLC now owns 12,237 shares of the oil and gas company’s stock valued at $1,511,000 after purchasing an additional 687 shares in the last quarter. Finally, OneAscent Financial Services LLC raised its position in Phillips 66 by 113.2% in the 1st quarter. OneAscent Financial Services LLC now owns 5,834 shares of the oil and gas company’s stock valued at $726,000 after purchasing an additional 3,098 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSX has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Barclays increased their price objective on shares of Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Bank of America downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $144.00 to $147.00 in a research note on Wednesday, September 3rd. TD Cowen upped their target price on shares of Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, Phillips 66 currently has an average rating of “Hold” and an average price target of $145.18.

Phillips 66 Stock Up 2.0%

Shares of NYSE PSX opened at $142.27 on Monday. The firm has a market capitalization of $57.33 billion, a PE ratio of 38.87, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $143.25. The firm’s 50-day moving average is $133.96 and its 200-day moving average is $126.19.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The business had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. During the same period in the previous year, the firm posted $2.04 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.4%. Phillips 66’s payout ratio is presently 131.15%.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares in the company, valued at $4,842,180. This trade represents a 11.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 38,786 shares of company stock worth $5,348,075. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.